"We are establishing a new smartphone category with Mi Max. When we launched Redmi in India, we disrupted the market for sub-10K smartphones, bringing in a level of quality never seen before in the country and essentially creating the sub-10k 5.5-inch smartphone category," Hugo Barra, vice president of Xiaomi, said in a statement.

"Today, I am truly excited to bring Mi Max to India where users are increasingly consuming content on their mobile devices. We believe that Mi Max is the sweet spot between the mobility of a smartphone and immersiveness of a tablet, and it will provide a compelling option for users who only want one device for all their needs," Barra added.

With the announcement, the suspense over which of the three Mi Max variants will Xiaomi release in India has finally ended. The company has confirmed that it will launch two variants — a base model with 3GB RAM+32GB storage+Snapdragon 650 hexa-core CPU for Rs. 14,999 and another top-end variant with 4GB RAM + 128GB storage+ Snapdragon 652 octa-core for Rs. 19,999.

There is no word on whether the company has any plan of introducing the mid-tier model with 3GB RAM+64GB+Snapdragon 650 in India.

Other stipulated features of the Mi Max include the fingerprint sensor, a 4,850mAh battery, a 16MP primary camera with dual-LED flash on the back, PDAF (Phase Detection Auto Focus) and a 5MP front snapper with f/2.0 aperture.

Besides announcing the Mi Max, Xiaomi also unveiled the new MIUI 8.0 interface. It is said to come with refurbished Gallery app having built-in editing tools, enhanced calculator app, new Notes app, scrolling screen-shot, dual apps, inbuilt SMS caller-ID and many other value-added features.

Xiaomi Mi Max availability details:

The company has confirmed that base model, which is priced Rs. 14,999 will be made available on the official e-commerce site via flash sale on July 6. However, the availability details of the high-end model (Rs. 19,999) are still under wraps.